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Euro Drops to Three-Month Low Against Dollar

Weak German Economic Data Pressure Currency

By

James Ramage

May 23, 2014 4:11 p.m. ET

Investor worries of slower growth in Germany drove the euro to a three-month low on Friday against the dollar.

The common currency weakened after a measure of business sentiment in Germany came in below expectations. Weak economic data add to investor expectations that the European Central Bank will take measures to ease monetary policy at its next meeting in June, which would weigh on the euro.